Vienna would need 370 years to repay the debts

The figures have recently worsened. As of 2023, it would have taken approximately 240 years to be debt-free purely mathematically. The basis of the evaluation is the financial debts of 11.94 billion euros reported in the financial statement.

Without pension provisions: Vienna debt-free in about 80 years

They had increased by 1.77 billion euros compared to 2023. The 370 years for repayment is the maximum value, which also includes pension provisions. If these are not considered, according to the report, it would still take exactly 80.56 years for repayment.

Incidentally, the total number of retired civil servants has increased according to the City Audit Office. The number will rise by 470 to a total of 42,373 people by the end of 2024. The actual retirement age (excluding state teachers, note) was in the range of 60.33 to 61.01 years from 2020 to 2024. It thus approached the standard retirement age of 65 years "only slightly," as the auditors noted.

According to City Hall, purely a calculated value

In the office of Finance City Councillor Barbara Novak (SPÖ), it was noted to the APA that the "debt duration" calculated by the City Audit Office is a purely technical and above all fictional calculated value. It completely ignores future developments, the key figure says nothing about the repayment ability, actual speed of repayments, or the real financial situation of Vienna, it was stated in a statement.

Furthermore, pension provisions are not financial debts in the actual sense. They are nevertheless reported by Vienna in the interest of transparency. Vienna, it is asserted, is financially solid. The city is fully solvent, meets all obligations, and has high assets amounting to 37.8 billion euros (end of 2024, note).

However, there is no thought of cashing in on these values, it is assured at City Hall. Privatizations for short-term budget effects are "not an option." Instead, a consistent consolidation path is being pursued.

(APA/Red.)

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